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Retail Sales Probably Rose as U.S. Consumers Overcame Tax Rise

Sales at U.S. retailers probably grew in January as an improving job market helped consumers overcome higher payroll taxes, economists said before a report this morning.
The projected 0.1 percent rise would follow a 0.5 percent December increase, according to the median forecast in a Bloomberg survey of 80 economists. Other reports may show import prices and business inventories climbed.
Retailers such as Gap Inc. and Target Corp. are getting a sales boost as job gains support disposable income, helping temper the effects of the tax increase last month. Higher property values and stock prices are also bolstering household resources ... (full story)